Self-directed investors want to do more than “go it alone” when it comes to achieving their financial goals, the J.D. Power 2015 U.S. Self-Directed Investor Satisfaction Study finds.
“Self-directed investors may not be looking to delegate managing their money to an advisor, but they do value access to guidance when they are ready for it, whether that means a financial-planning tool they can use on their tablet, a webinar about saving for their children’s education or an actual human being who serves as a sounding board for ideas by phone or in a local branch,” said Mike Foy, director of the wealth management practice at J.D. Power, in a statement.
The study, now in its 14th year and released in late May, includes the views of 3,700 self-directed investors and measures satisfaction with their investment firm based on six factors: interaction, account information, trading charges and fees, account offerings, information resources and problem resolution.
The current overall satisfaction level across marketplace is 763 (on a 1,000-point scale), which is unchanged from 2014 and up slightly from 752 in 2013.
Most investors with guidance-based relationships, 64%, are likely to recommend their firm to friends and family, and many, 45%, are poised to increase their investment levels with the firm vs. those who do not have this type of relationship, of whom just 26% are likely to make referrals and only 29% plan to boost investments, J.D. Power explains in a press release.
The 2015 survey finds that consumers are more satisfied with three of the top seven firms then they were a year ago and less satisfied with the remaining four. Of the 10 firms highlighted in the poll, satisfaction increased for six firms and dropped for four.
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